The statement of financial position of Warner Company showed the following data about its common shares: authorized shares,100,000; outstanding shares,55,000; and issued shares 60,000.What was the number of treasury shares?
A)5,000
B)30,000
C)40,000
D)45,000

Question

Quizplus · Accepted Answer

The number of treasury shares is calculated as the difference between the issued shares and the outstanding shares. Therefore, 60,000 issued shares minus 55,000 outstanding shares equals 5,000 treasury shares.

The Statement of Financial Position of Warner Company Showed the Following